Question 1

What is the ACCC and how does it affect my business?

Accepted Answer

The Australian Competition and Consumer Commission (ACCC) is the federal regulator responsible for enforcing the Competition and Consumer Act 2010. It oversees mergers and acquisitions for competition impacts, investigates anti-competitive conduct such as cartels and misuse of market power, and enforces consumer protection laws including misleading or deceptive conduct, unfair contract terms, and product safety standards. Businesses must ensure their conduct complies with these laws to avoid significant penalties.

Question 2

What are unfair contract terms under Australian Consumer Law?

Accepted Answer

The unfair contract terms regime applies to standard form contracts with consumers and small businesses. A term is unfair if it causes a significant imbalance in the parties' rights and obligations, is not reasonably necessary to protect the legitimate interests of the party who would benefit from it, and would cause detriment to the other party if relied upon. Since November 2023, unfair contract terms attract significant civil penalties.

Question 3

What is cartel conduct and what are the penalties?

Accepted Answer

Cartel conduct includes price fixing, market sharing, output restriction, and bid rigging between competitors. It is a criminal offence carrying penalties of up to 10 years imprisonment for individuals and fines of up to the greater of $50 million, three times the benefit obtained, or 30 per cent of annual turnover for corporations. The ACCC actively investigates and prosecutes cartel conduct and operates an immunity and cooperation policy for whistleblowers.

Competition & Consumer Law

Industries & Sectors

Peter van der Zanden

Phillip Dobson

Darren Zusman

Facing a competition & consumer law matter?